…In the previous movie, I showed you how to find a target value by using Goal Seek.…Goal Seek changes the value of a single cell to find an optimum result.…Now I'd like to show you how to use Solver, which…allows you to change multiple variables to find an optimal solution.…Solver is an excel add-in that's not…automatically activated when you install the product.…But it's not that difficult to add.…In this movie, I will show you how to add Solver.…You can just open…Excel for this movie.…I have up the SolverModel sample file, but that's just so…you have something to look at other than a blank screen.…
to see if you already have Solver…installed, click the data tab of the ribbon.…If it's installed, it will appear at the right edge of this ribbon tab.…And as you can see, that area is blank.…So to add it, I'll click the File tab, click Options,…and then click the Add-Ins category.…Then at the very bottom of the Excel Options…dialog box, I'll make sure that Excel Add-Ins is selected.…If not you can select it from this drop down list and then click Go.…
- Explain how to create a scenario in Excel.
- Identify the two input values that should be used to create a two variable data table.
- Recall what the Excel feature Goal Seek is used for.
- Recognize the three things that must be separated from one another to make reading a worksheet with multiple units easier.
- Describe the tools that Excel provides to manipulate data.
- Break down the steps required to recalculate a worksheet's formulas.
Skill Level Intermediate
1. Defining Scenarios and Data Tables
2. Creating Goal Seek and Solver Models
3. Creating a Configurable Model
4. Performing Monte Carlo Simulation
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